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Cost reduction measures are close to Rivian from profitability, but the company warns that 2025 may still be a difficult-especially due to the uncertainty caused by the new Trump administration.
Company Declare On Thursday, financial results in the fourth and year 2024, however, participated in plans to provide between 46,000 and 51,000 volts over the year 2025. Reivian warned that “changes in government policies and regulations, and the difficult demand environment” could affect these results, According to the shareholders ’message, the EV maker was released alongside its results.
Rivian did not specify what these changes might have, but Trump said in the campaign path that he was tending to find a way to The Federal Federal Tax Credit of $ 7,500. Trump’s administration friend Vivek Ramasuami It has also been called To obtain a $ 6.6 billion loan from the Ministry of Energy to build a factory in Georgia. This loan has been completed Three days before Trump took office.
“We are really looking forward to working with the new administration and the Ministry of Energy on our loan, and we participate in the president’s desire to return jobs to the United States,” Claire McDono, Rivian’s financial director, said in a phone call on Thursday. Noting that the company plans to create 7,500 manufacturing functions at the planned Georgia factory. She said later in the call that Review was planning a major beating like “hundreds of millions” of dollars related to definitions, any losses in EV, and other changes in politics.
“We really believe, and we are consistent with the administration on this topic, that the United States needs to be a world leader in this regard, and our investment in electronics, in software, to autonomy and AI – this is really essential and CEO of RJ Scaring in This call: “Our regions as a country to continue to exercise a leadership position.”
Rivian spent most of 2024 a tear to reduce costs. He – she 10 % of its workforce applies In February, simplified expulsion, Brick Pioneer EVS versions – Pick AugP R1T and R1S SUV – in June. The company ended up changing 600 parts on those vehicles to reduce manufacturing costs, while renewing its user interface for electrical engineering and software.
Changes such as those that helped Rivian helped $ 170 million of positive total profits in the last quarter of 2024 – although $ 60 million of this came from software and services.
Rivian recorded $ 1.7 billion revenues for the fourth quarter, an increase of 32 % over the same period in 2023. The largest part of the fourth quarter revenues – about 1.5 billion dollars – came from the sale of 14,183 cars in addition to $ 299 million in selling zero – organizational credits Organizational for auto industry companies. For this year, Rivian recorded $ 325 million in revenues from selling organizational credits.
Software revenues are increasingly playing an important role. Rivian achieved $ 214 million of software and services in the fourth quarter, and doubled the amount from the same last period. Rivian has recorded $ 484 million revenue for 2024 software and services.
Rivian may be in the field of building and selling EVS, but its future is largely installed on software, that is, through a profitable joint project with the Volkswagen group.
Revenue from software was paid primarily through shipping, subscriptions, repair and maintenance services, and new electric architecture services for cars and software development provided by the joint project, according to Rivian.
This story was updated with information from the quarterly profit call.